Kotabaru, South Kalimantan (ANTARA) - PT Indocement Tunggal Perkasa, together with its subsidiary PT Dian Abadi Perkasa, have compeleted the takeover of all shares of PT Semen Grobogan.
The signing of sale and purchase deeds for the takeover of 345,860 shares or 100% share ownership in PT Semen Grobogan was carried out on November 30, 2023 in Jakarta.
President Director of Indocement Christian Kartawijaya in a statement received in Banjarmasin, Friday (December 1, 2023), noted that the transaction was fully funded by the company's internal cash.
The acquisition was considered as its important step in the plan to strengthen footprint of cement factory and terminal location, thus it is able to increase logistics and distribution cost efficiency, while maintaning market share, especially in Central Java.
The takeover was not material or an affiliate transaction and/or conflict of interest transaction for Indocement. It did not have a material negative impact on Indocement's operational activities, legal, and financial condition or business continuity, he noted.
The Grobogan cement factory is located in Sugihmanik Village, Tanggungharjo Sub-district, Grobogan District, Central Java, with a production capacity of 1.8 million tons clinker per year and 2.9 million tons cement per year (rising from the current capacity of 2.5 million tons in stages after takeover).
Semen Grobogan began its commercial production in January2022 and has a raw material supply for more than 50 years.
The acquisition was an important further step to strengthen Indocement's position in Central Java, after it took over Bosowa Cement factory in Maros, South Sulawesi, with an asset lease agreement to strenghthen market supply in eastern Indonesia.
Indocement also took over a cement mill in Banyuwangi to strengthen its market in East Java and Bali, so as to provide an overview of long term roadmap to make the distribution of Tiga Roda cement more robust and reliable for customers all over Indonesia.
Christian added that the acquisition was also a reflection of the high trust of the main shareholders. Heidelberg Materials AG as a world cement player, to strengthen investment in Indonesia, considering various government infrastructure projects and development of properties and commercial sectors in the coming years.
Heidelberg Materials AG believes that various synergies not only in term of logistics, but also the use of alternative fuel, and environmentally friendly cement production, as well as the transfer of latest knowledge from technical and sustainability perspective will provide more efficient production cost in the future.
Indocement, as one of the largest cement producers in Indonesia, produces Tiga Roda and Rajawali cement.
Today Indocement and its subsidiaries are engaged in several business fields including manufactoring and sales of cement (core business), ready mix-concrete, as well as aggregate and trass mining, with nearly 3,400 employees.
Indocement has 13 factories with a total capacity of production 25.5 million tons cement a year. Ten factories are located in Citeureup Factory Complex, Bogor, West Java, two in Cirebon Factory Complex, West java, and one in Tarjun Factory Complex, Kotabaru, South Kalimantan.
In 2022, Indocement has operated Maros Factory after an asset lease agreement with PT Semen Bosowa Maros and PT Bosowa Corporindo. Heidelberg Materials AG has been the majority shareholder in Indocement since 2001.
Read also: Indocement wins BISRA Platinum Champion for environmental element
Read also: Tanah Bumbu, PT Indocement collaborate to managing waste problems
